Rio Tinto Q1 Diavik Output Slips 22% To 740,000 Carats

Mining major Rio Tinto recorded a 22% decline in diamond production to 740,000 carats at its fully owned Diavik mine in Canada for the Q1 that ended 31st March 2024. However, the Q1 2024 output was 12% higher than the preceding Q4 2023 which registered 659,000 carats.

The company said the lower diamond output was due to a production pause to grieve and honour lost colleagues. “Lower ore mined from the depletion of two ore bodies in 2023 was partially offset by continued improvements in A154N underground ore deliveries and ore development from the A21 underground project,” it noted.

During the reporting period, Rio Tinto transferred ownership and operational responsibilities for the Fort a La Corne diamond project in Saskatchewan, Canada, to Star Diamond Corporation in exchange for shares.

The company is currently developing a greenfield diamond project in Chiri, Angola.

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